Searches And Hires
The defined contribution plans terminated their underperforming balanced manager last month.
The search comes after the plan placed its incumbent manager on watch.
The emerging markets equity manager had been placed on watch for performance reasons over the summer.
The plan is seeking firms without geographic barriers following an asset class restructuring earlier this year.
The $14.9 billion Public School Teachers’ Pension & Retirement Fund of Chicago rehired Callan as its general investment consultant at its Sept. 3 investment committee meeting.
The retirement system also made a follow-on private equity commitment today.
The authority expects to issue an award notice in January.
The plan’s board had been in a protracted search that had initially seen Verus hired over incumbent Callan and then the search restarted.
The pension plan hired a new domestic large-cap growth equity manager last month.
The retirement plan is seeking a general investment consultant due to an upcoming contract expiration.